NEW YORK CITY-GFI Realty Services has sold 2914-2928 Jerome Ave. for $13.2 million, GlobeSt.com has learned EXLUSIVELY. The property consists of two six-story, elevator apartment buildings in the Jerome Park section of the Bronx, N.Y. Featuring 123 apartments totaling approximately 124,492 square feet, the building sale price translates to $107,000 per unit.
GFI Realty Services senior director Yosef Katz represented the seller, MDJJ Realty, while GFI Realty Services associate director Josh Orlander represented the buyer, the Scharf Group.
“We were able to move quickly and smoothly to close this off-market transaction,” Katz says. “Assets of this size rarely come to market, and we were pleased that the sellers recognized our ability to strategically target the right buyers for this deal due to our longstanding relationships in the industry.”
“Large pre-war elevator buildings are a unique and highly desired commodity,” GFI's Orlander adds. “The buyer jumped at the opportunity to acquire a well-maintained building with more than 100 units.”
The multifamily buildings, which were built in 1935, sit one block away from the Grand Concourse and the B, D & 4 subway lines, and are in proximity to the Bronx Park.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
